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I am at my wits end. The search for a powerful stock screener that does the above mentioned items has reduced me to a blubbering mass of decaying flesh. I am getting the impression that I trade unlike any other trader in the world. I am at a total loss.
"I've missed more than 9,000 shots in my career. I've lost almost 300 games. 26 times, I've been trusted to take the game-winning shot and missed. I've failed over and over and over again in my life. And that is why I succeed."
- Michael Jordan, 5-Time NBA Most Valuable Player, 6-Time NBA Champion
Can you help answer these questions from other members on NexusFi?
Take a look at the book "One good trade" by Mike Bellafiore. they are trading "Stocks in Play" every day. The stock screener would be too much an hindsight filter because extreme volatility or taperolling is from what is already done.
Unless I'm misunderstanding you, It sounds like you don't see much merit in screeners. I'll have to read the book you suggested to more fully understand your take on screeners.
My screens search for stocks that are showing conditions that, given the correct trigger, will have a high probability for success. My conditions have been thoroughly backtested and have proven to be profitable when paired with the appropriate trigger condition. I know my method is robust.
The trouble I have is in finding a screener (tied to an alert system) that can find those INITIAL conditions as they happen in real time. This is what a screener does! Afterall, what would be the point of a screener if there was no merit in finding stocks with conditions ideal for trading?
I have had success with Ameritrades Strategydesk with this strategy on longer time frames but it is not quick enough to flag those conditions on the shorter time frames that I want to trade. It does all the work for you and would literally be the PERFECT solution if only it were more responsive.
Tradestation screener may have a faster screen but you can't apply more than one time frame to a single stock Sorting is very limited. You have to separate different time frames in different tabs and then copy and paste results from longer time frame into another tab with shorter time frames. It's a disaster!
Multicharts seems to handle it's screener in the same way as tradestation (still researching but not hopeful) there doesn't seem to be anyway to filter based on more than one time frame. example: hourly SMA moving up and 10 minute Stochastic below 20. Sorting is severely limited.
Ninja trader is exactly what I am looking for. It basically works the same as Ameritrades StrategyDesk screener except that you it makes you do a lot more work to get it to display/filter in the same way StrategyDesk does. Only one serious problem....it can't handle the workload and brings the system to a crawl and becomes utterly unusable. Plus, if you don't have programming experience you have to spend several days learning C#just to accomplish basic things.
Worden TC2000 is almost there! Offering a very fast scanner that allows you to create your own custom conditions. it has the advantage of doing all the work on it's servers and then sends the data to your machine for further sorting. Sounds great! Only two major flaws. 1. It's exponential calculations don't use enough data and so don't reflect what your chart shows. Therefore you get erroneous results! 2. you have to manually hit the re-scan and -resort buttons over and over and over again. It does NOT stream results in real time. It sends a static list which you then sort according to conditions you code. - it's very disappointing that such a powerful software would leave out auto-sorting! 3. It has no alerts attached to the conditions. You cannot fire an audible alert based on the conditions. You literally have to sit at your computer all day long hitting the rescan button and watching a 4x4 section of your monitor in the hopes that a conditions will fire. 4. You can't have multiple strategies running at the same time like you can with NT and Ameritrade StrategyDesk. 5. It is not very flexible for multiple monitors and you can't trade from the platform. It's strictly a charting package with a focus on screening stocks
So......does anyone out there know of any solution to my problem??
"I've missed more than 9,000 shots in my career. I've lost almost 300 games. 26 times, I've been trusted to take the game-winning shot and missed. I've failed over and over and over again in my life. And that is why I succeed."
- Michael Jordan, 5-Time NBA Most Valuable Player, 6-Time NBA Champion
I believe, that you can achieve all you are looking for with custom scans in Investor R/T and its realtime Quoteboards. Try to ask for more details @LSChad
I'm surprised to hear this. I thought you didn't trade stocks. Anyway, I wish my friend was
part of BigMikeTrading. I know a little about his trading methodology, but I just can't say much without
his permission. I know you're looking for a stock screener, but he has a group of stocks (don't know
how many) that he looks at. He says something is always going up. This is not day trading though. I'm not
sure if that's what you're going for or not. He does multiple-day trading, or whatever the term is.
If you have 100 specific stocks, that might be a manageable amount to check out once a day?
My grand idea about options was to have 4 or 5 calls to 1 put (bullish guess)
else
4 or 5 puts to 1 call (bearish guess).
For the bullish guess, the idea was that if the OEX (or whatever) went up slightly you made money.
If it went down significantly, in other words your guess was totally off, you still would make some money or
come close to breaking even.
Just looked it up now. I guess it's a strap if bullish, and a strip if bearish. So if I got this right,
the strap is a long straddle with a bullish bias. The strip is a long straddle with a bearish bias.
Attachment shows a strap. But their website only uses a 2 to 1 ratio of calls to puts, so there isn't much
of a bias there in my opinion.
This seems like an interesting piece of software. It does a number of things besides trendlines.
From their website:
Ramp is a trendline scanner.
Ramp is an automatic trendline generator.
Ramp is a Fibonacci Retracement Screener.
Ramp is the worlds best MACD Divergence Scanner.